That’s according to the Director of the Prairies for the Canadian Federation of Independent Business Jonathan Alward who says one-in-five businesses have been victimized by fraud.
Alward highlighted some of the types of fraud that small businesses may face including card not present fraud where the potential customer is basically using a fraudulent credit card and getting services picked up that you find out after the fact wasn’t covered. He adds one of the big issues for small businesses especially is they’re often the ones that are left on the hook to pay even if it wasn’t necessarily their fault. Anointer one he notes could be directory fraud or false invoicing things like that where a lot of Canadian are caught by these kinds of scams, not just small businesses but certainly something that exists and you also have occupational fraud with things like potential employees falsifying their previous experience or abusing flexible work hours and other things like that or even company assets they’re stealing internally.
For more information you can visit their website www.cfib.ca.